SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Eagle Bulk Shipping Inc. (NYSE – EGLE)
BALA CYNWYD – December 12, 2023 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Eagle Bulk Shipping Inc. (“Eagle Bulk” or the “Company”) (NYSE – EGLE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Star Bulk Carriers Corp. (“Star Bulk”) (Nasdaq – SBLK). Under the terms of the agreement, Eagle shareholders will receive 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. This represents a total consideration of approximately $52.60 per share. Upon the close of the transaction, Star Bulk and Eagle shareholders will own approximately 71% and 29% of the combined company on a fully diluted basis, respectively.
The investigation concerns whether the Eagle Bulk Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Star Bulk is paying fair value to shareholders of the Company, as well as the dilution to the Company’s shareholders in the combined company.
If you own shares of Eagle Bulk stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.